RBC Capital raised the firm’s price target on BioCryst (BCRX) to $15 from $14 and keeps an Outperform rating on the shares. Following the announced transaction to acquire Astria Therapeutics (ATXS), their conference call discussing terms, and the firm’s discussion with BioCryst’s management team, RBC has further conviction that despite the near-term dilution tradeoff, this is a very sound deal that should leverage BioCryst’s core competencies well, and set up their franchise even better. The firm added that Tuesday’s weakness in BioCryst shares presents a compelling buying opportunity.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BCRX:
- BioCryst’s Strategic Acquisition of ATXS: A Catalyst for Long-Term Growth and Profitability
- BioCryst’s Strategic Acquisition of Astria Therapeutics Boosts Market Position and Financial Outlook
- BioCryst price target raised to $15 from $14 at Jefferies
- Astria Therapeutics downgraded to Hold from Buy at Jefferies
- Midday Fly By: Big banks report beats, GM takes $1.6B EV charge